2014 Toyota Corolla, Tundra Enter Production

Redesigned Corolla, updated Tundra enter production

New Corolla offers redesigned exterior, larger interior

Both Tundra and Corolla should reach dealers soon

The all-new 2014 Toyota Corolla compact sedan and the updated 2014 Toyota Tundra pickup are now in production. That's the latest from Toyota, which recently announced that the start of production means the new vehicles will arrive at dealerships shortly.

Corollas sold in the U.S. are built in two Toyota factories: one near Tupelo, Miss., and the other in Cambridge, Ontario, Canada. All Tundra pickups, meanwhile, are built at a Toyota plant in San Antonio, Texas.

The Corolla is completely redesigned for the 2014 model year. A 1.8-liter 4-cylinder engine is the only powerplant available, though drivers can pick between 132- and 140-horsepower versions. Toyota says fuel economy will reach over 40 miles per gallon, likely due to the use of lightweight materials and a highly efficient continuously variable automatic transmission. That's a big increase over today's Corolla, which returns up to 34 mpg hwy.

On the outside, the Corolla is very different from the current model. Every panel is new, and the bold design is a big departure from the staid look of today's Corolla. The interior is also radically different, boasting an updated cabin and a new dashboard. Interior size and exterior dimensions have both grown for 2014.

The 2014 Tundra isn't as radically overhauled. While the truck boasts a new grille, an updated dashboard and other styling changes, most major items -- such as its 5.7-liter V8 and a long list of available body styles -- remain the same.

If you're interested in a Corolla or a Tundra and don't want the latest design, now may be the time to buy an outgoing model. Toyota dealers are likely offering steep discounts in the wake of the upcoming new models. But if you're looking for a new design, you won't have to wait long before the new Corolla and Tundra reach dealers.

What it means to you: The arrival of the 2014 Toyota Corolla and the 2014 Toyota Tundra means outgoing models are likely available with big discounts.

Doug DeMuro
has a wide range of automotive industry experience, from work at a Ferrari dealership to a manager for Porsche North America. A lifelong car enthusiast, Doug's eclectic vehicle purchases include a Porsche 911 Turbo, an E63 AMG wagon, an old Range Rover and a Mercedes Benz G-wagen.